S&P ups Edelnor to B

Standard & Poor's said it raised its long-term corporate credit rating on Empresa Eléctrica del Norte Grande SA (Edelnor) to B from B-, reflecting better-than-expected financial performance since 2003.

In addition, S&P said Edelnor's diversified power generation portfolio should protect the company from natural gas shortages in the Northern Electric System. The outlook remains stable.

The ratings on Edelnor reflect a still weak financial profile and the cash flow volatility derived from projected volatile spot prices in the SING, according to S&P.

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